Tuesday, October 17, 2017

One of our landlords asked us this week if he was likely to
be affected by the Selective licensing scheme which could be brought in by
Nottingham City Council.

The proposed scheme which could be brought in during 2018
would see areas with a high proportion of rented homes fall under the licensing
requirements – some 32,000 properties. The aim of the licence is to tackle poor
housing standards in the private rented sector that do not fall into the HMO
category.

Landlords in these areas would see a cost of a licence
ranging from £400 to £655 depending on what accreditation they had.

The East Midlands Property Owners Association who represent a large
number of landlords in the city have expressed concerns.

Will the Nottingham City Council be able to improve
standards in Nottingham’s private rented sector if they are proposing to only
visit 50% of the properties where landlords are not accredited?

EMPO believe that the new powers under the Housing and
Planning Act now provide the council with the sufficient tools it needs to
address the issues that the licensing scheme proposes to resolve. It’s now up to the Secretary of State to
authorise this size of scheme so we will see what the decision is.

What is for certain – if the licensing goes ahead it is
another cost the landlord will face and this could be the final straw for some
investors who may decide to exit the Nottingham private rented sector.

What about my landlord with a property in Bingham? If the licensing
goes ahead it could push rents up in the city if landlords try to recover costs
and the supply of rented property decreases.
Bingham could see an increased demand from tenants which would potentially
improve rental yields.

If you are considering investing in property then it’s very
important to consider the local climate and ensure you have a good
understanding of what tenants are looking for.

Thursday, October 5, 2017

Thomas James have just listed this lovely 2 bed property in Calverton. It is has been advertised for sale at £125,000 and comes with a garage. A property in this condition in this area would let for around £550 pcm which would give a potential return of 5.3%. Its not often we see property advertised at this sort of price that doesn't require a lot of work so I am sure it will sell as quickly as it would let!http://www.rightmove.co.uk/property-for-sale/property-69216305.html

Katie Archer

The Bingham Property Blog

I am Katie Archer from Belvoir Lettings in Bingham and in this blog, I will talk about what is happening in Bingham’s property market, looking at the town and surrounding area, and even researching specific streets or housing estates.

You'll find my tips, guidance and analysis that relates specifically to the property market in Bingham and surrounding villages and you will also find properties from all the estate agents in the local area on here that may make decent buy to let investments.

From our office in the centre of Bingham, I offer free, impartial buy to let advice for landlords investing in Bingham, Newton, Calverton, Burton Joyce, East Bridgford, Gunthorpe and surrounding villages.

If you see a potential deal, and want a second opinion, pop into the office or email the Rightmove link tokatie.archer@belvoirlettings.comand I will always give you my honest opinion on the property and it’s investment / buy to let potential.

**Please note any values are for guidance only as the properties may have not been fully appraised and are based on details available online. The % returns are gross so do not include any running costs of the let.**